US-based packaging company Sealed Air has acquired Irish packaging solutions company Foxpak Flexibles in an effort to expand its presence in Europe.
The company carried out the acquisition through SEE Ventures, a company initiative to focus on investing in ‘disruptive’ technologies and business models.
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With the addition of Foxpak, Sealed Air aims to help advance innovations in smart packaging.
Based in Collon, Ireland, Foxpak has developed digital flexible and compostable packaging and uses digital printing capabilities to print directly onto its flexible packaging materials.
The company claims it can efficiently scale up or down its solution in line with customer specifications.
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Founded in 2001, Foxpak currently serves customers in more than 30 countries, employing a total of 33 people.
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By GlobalDataThe privately-owned company works in collaboration with major brands to offer packaging solutions, stand-up and spout pouches and sachets.
Its products are exported to Northern Ireland, the UK, Europe and the US, where they are used for various applications in the food retail, pet food, seafood and snack food markets.
In 2019, Foxpak opened a manufacturing plant in Collon and invested €3m in new equipment and facilities.
Sealed Air president and CEO Ted Doheny said: “Foxpak will build on our digital packaging solutions where graphic design and digital printing are key areas of value creation.
“Foxpak is recognised as a customer-centric, digital printing pioneer. Together we will accelerate our digital future with innovations in smart packaging for leading brands around the world.”
The financial terms of the transaction have not been disclosed.
Sealed Air currently serves customers in 117 countries and territories, employing around 16,500 people in total.
In November last year, the company announced a three-year collaboration with the College of Communication and Art Design at the Shanghai University of Science and Technology (USST) to train future packaging professionals among USST students.
